API: Crude Stocks Snap Three-Week Draw; Gasoline, Distillates Fall

DAVENPORT, FL (DTN) –U.S. crude oil inventories increased for the first time in four weeks during the week ended October 4, while gasoline and distillate fuel stocks declined, the American Petroleum Institute reported on Tuesday (10/7).

U.S. commercial crude oil supply rose by 2.78 million bbl last week, ending a three-week streak of draws.

Inventories at Cushing, Oklahoma, the delivery point for NYMEX West Texas Intermediate futures, fell by 1.152 million bbl, according to API.

Gasoline inventories fell by 1.245 million bbl in the week ending October 4, reversing the previous week’s build.

Distillate fuel stocks also declined, sliding by 1.822 million bbl after a 3 million bbl increase the prior week